The Gorman-Rupp Company (NYSE:GRC) Stock Position Lowered by Fruth Investment Management

Fruth Investment Management lowered its position in shares of The Gorman-Rupp Company (NYSE:GRC) by 0.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,948 shares of the industrial products company’s stock after selling 437 shares during the quarter. Fruth Investment Management’s holdings in Gorman-Rupp were worth $2,538,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in Gorman-Rupp by 5,461.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 723 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 710 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in shares of Gorman-Rupp in the 3rd quarter worth approximately $29,000. nVerses Capital LLC acquired a new stake in Gorman-Rupp during the third quarter valued at approximately $31,000. Copeland Capital Management LLC bought a new stake in Gorman-Rupp during the third quarter worth approximately $58,000. Finally, Point72 Asset Management L.P. acquired a new position in Gorman-Rupp in the third quarter worth approximately $62,000. 59.26% of the stock is owned by institutional investors and hedge funds.

Gorman-Rupp Trading Up 0.6 %

NYSE:GRC opened at $38.02 on Thursday. The stock has a fifty day simple moving average of $39.03 and a 200 day simple moving average of $38.99. The firm has a market capitalization of $997.19 million, a price-to-earnings ratio of 26.22, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97. The Gorman-Rupp Company has a 1-year low of $30.47 and a 1-year high of $43.79. The company has a quick ratio of 1.38, a current ratio of 2.39 and a debt-to-equity ratio of 0.99.

Gorman-Rupp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, February 14th. Gorman-Rupp’s dividend payout ratio (DPR) is currently 51.03%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Gorman-Rupp from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 29th.

Gorman-Rupp Company Profile

The Gorman-Rupp Company designs, manufactures, and sells pumps and pump systems in the United States and internationally. The company’s products include self-priming centrifugal, standard centrifugal, magnetic drive centrifugal, axial and mixed flow, vertical turbine line shaft, submersible, high-pressure booster, rotary gear, diaphragm, bellows, and oscillating pumps.